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Reform Ruckus Is Rolling !

Being a sophomore is altogether a different feeling…while you know a lot more that the “Fucchas” but you still remain “less experienced” than the third years. Thanks to the semester system which makes you feel as if you are still in school with regular tests and assignments; I have been unable to post my writings.
The fact is that I m guilty of not having posted any piece and thus looking for corners to hide.
So here I am back with my views on how the policymakers have been working behind my back(Haha!).

Before the world organisations could slam another downgrade for the Indian economy, the GOI has acted and acted in a FIRM manner(for once!).
UPA -2 having heard a lot of denigration from speculators and journalists from all over the world(our PM was tagged the UNDERACHIEVER by the TIME magazine), took some “drastic” steps for the common man.

Manmohan Singh, the robust reformer of the 1990’s, is back with a bang. He released two major policies: First, a hike in diesel prices along with a decrease in number of subsidised gas cylinders and second, F.D.I open upto 49% in aviation and 51% in multi-brand retail. Recently, there have been rumours that broadcasting services sector might also have F.D.I upto 74%.
Even though our political maestros are divided in opinion, I am firmly against the first change and in support of the second.
TAKE 1:
Diesel is known to be “common man’s fuel” and thus an increase in price would surely hurt everyone’s pockets. This is an impact not to be ignored. Being an economics student, I have learnt that inflation always feeds on itself. It has a spiralling effect! If prices go up without a proportionate rise in incomes, the common man is sure to worse-off. The catch here is that it is not the Government’s business to do business so they must only look at public welfare(that is what they are meant to do!).
Well, if they thought that the fuel price hike was necessary to cut down the deficit then this is certainly not the way to do it! Doesn’t higher inflation induce higher deficits and debt burden?
Also, by decreasing the gas subsidy, the GOI has gained bad name in the eyes of the public. I understand that the oil companies are running high losses estimated at Rs. 30,000 crores on LPG alone, but still cooking gas must not be the target! The GOI must aim at equitable distribution and tax commodities which are bought by the rich and the wealthy.
I hope our policymakers have an answer to this…

TAKE 2:

The Cabinet Committee on Economic Affairs had taken this bold decision after looking into all the Ifs and Buts.
Some political analysts are of the view that the excessive competition from abroad will destroy our domestic suppliers. But we must not forget that these foreign turks would bring in employment opportunities and lot of technological advancements. This increased competition will lead to lower prices for the consumers and higher prices for the farmers(who are the suppliers of raw materials). So where are we to lose? Nowhere!
Next is the ailing aviation sector; in my opinion, would be a prime beneficiary of FDI. On one side, our national carrier Air India is losing its feathers and on the other side, many private airlines like Kingfisher are totally cash-strapped. Vijay Mallya has long been in search of foreign investors and this new policy will be a shield for the sinking ship. The strategic tie-ups will give a boost to our Indian suppliers. While the majority stake will be of the Indian party, the benefit will be availed by us. So, it is basically a win-win situation.
Mamata Banerjee, the leading lady of Trinamool Congress has vehemently opposed this stand saying that it would crush the Indian firms. One polite reminder for her is that F.D.I here would be partnership and not takeover! She is all set to release an anti-F.D.I resolution and garnering lot of public support for the same.
While she is busy doing so, many foreign investors are very excited about the new investment prospects. This bogus step will not only given a refresh signal to the investor confidence but also give a new life to our Indian markets. For all those against F.D.I , the tax codes are also being formalised systematically to avoid any kind of foreign monopolies in India.

I know that discussions and deliberations help in bringing out the best policies. But our head politicos find walking out an easy and “non-violent” way of protesting; they fail to realise that their action eventually jams the progress of the government. I hope the coalition parties make peace and get cracking on finalising laws rather than finalising stands.

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